diff --git a/CHANGES.rst b/CHANGES.rst
index f1040518d..b97cdcc53 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,6 +1,13 @@
 Release Notes
 =============
 
+1.1.8
+-----
+
+* Bugfix: Repair a regression in `--disable-cache`.
+  `#261 <https://github.com/pantsbuild/pex/pull/261>`_
+  `Fixes #260 <https://github.com/pantsbuild/pex/issues/260>`_
+
 1.1.7
 -----
 
diff --git a/pex/version.py b/pex/version.py
index 2f3f64858..fb690a008 100644
--- a/pex/version.py
+++ b/pex/version.py
@@ -1,7 +1,7 @@
 # Copyright 2015 Pants project contributors (see CONTRIBUTORS.md).
 # Licensed under the Apache License, Version 2.0 (see LICENSE).
 
-__version__ = '1.1.7'
+__version__ = '1.1.8'
 
 SETUPTOOLS_REQUIREMENT = 'setuptools>=2.2,<20.11'
 WHEEL_REQUIREMENT = 'wheel>=0.24.0,<0.30.0'